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Tenant fees and Charges

Before you Move In
 
Set up Fee - £216.00 inc. VAT (inc. one tenant)
Referencing (identity, immigration status check, financial credit checks, obtaining current or previous landlords/employers and any other relevant information to access affordability) as well as contract negotiation (amending and agreeing terms) and arranging the tenancy agreement.

Additional Tenant Referencing Fee - £60.00 inc. VAT (per tenant)

Guarantor Fee - £120.00 inc. VAT per guarantor (if required)
Covering credit referencing and preparing a Deed of Guarantee as part of the Tenancy Agreement

Other Charges you should allow for
 
Payment of Intent – equivalent to two week’s rent
We require a payment of intent as confirmation of your intent to proceed with the proposed tenancy. This will be put forward towards your first rental payment and will only be refunded if our client elects not to proceed. Payment of this sum does not constitute the granting of tenancy.

Rent in Advance – 1 Month
Under the terms of the tenancy agreement you will usually be required to pay 1 month’s rent in advance prior to the commencement of the tenancy

Deposit – Equivalent to 6 weeks rent
The deposit is held to protect your landlord from you not meeting your obligations under the terms of the tenancy. Whilst you should check the tenancy agreement for details specific to your tenancy, it is likely to be held by us as stakeholder and registered with a Deposit Scheme (MyDeposits or DPS). This means that no deductions can be made until you and the landlord have reached an agreement or there is a judgement by the courts or the deposit protection scheme.

Stamp Duty Land Tax
This tax is payable on tenancies where the rent exceeds £125,000. Please contact HMRC for further information

During your Tenancy

Change of Sharer - £180.00 inc. VAT
Contract negotiation, referencing, immigration status check, amending terms and updating your tenancy agreement during your tenancy agreement

Ending your Tenancy

Check Out Fee – Typical Cost £180.00 inc. VAT
Attending the property to undertake an update Schedule of Condition based on the original inventory and negotiating the payment of the security deposit

Other Fees and Charges
 
Unpaid /Returned Payments – Interest at 5% above Bank of England Rate from due date

Professional Cleaning (if required) – Typical Cost £300.00 inc. VAT
Only charged where professional cleaning is necessary to return the property to the same condition as at the start of the tenancy. The actual cost of the cleaning is dependent on the size of the property. We will give you the price applicable to the property in good time.

IF YOU HAVE ANY QUESTIONS ABOUT OUR FEES PLEASE ASK A MEMBER OF STAFF

Independent redress provided by
Member of MyDeposits